Mannkind Corporation · NASDAQ:MNKD
Mannkind — Q2 2026 Earnings Presentation
36 slides from Mannkind's earnings presentation, Aug 5, 2026
Slide 1: Q2 2026 Financial Results & Business Update
Q2 2026 Financial Results & Business Update August 5, 2026 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 2: Cautionary Statement
Cautionary Statement Statements in this presentation that are not statements of historical fact are forward-looking statements that involve risks and uncertainties. Words such as “believes”, “anticipates”, “plans”, “expects”, “intend”, “will”, “goal”, “potential” and similar expressions are intended
Slide 3: Agenda
Agenda 1 Opening Remarks 2 Business Updates 3 Financial Results 4 Closing Remarks Michael Castagna, Chris Prentiss PharmD Chief Financial Officer Chief Executive Officer 5 Q&A 3 © Copyright 2026. All rights reserved. MannKind Corporation. / 5 August 2026
Slide 4: Business Updates
Business Updates 4 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 5: Major Catalysts Driving 2026 & Beyond
Major Catalysts Driving 2026 & Beyond Afrezza® Pediatrics Furoscix ReadyFlow Nintedanib DPI • Indication expansion • Reduces administration from • Urgent need for new, effective hours to seconds via an therapies in IPF • Unique value proposition autoinjector addressing patient unmet • Lung targeted
Slide 6: Q2 2026: Beyond the Catalysts
Q2 2026: Beyond the Catalysts • Afrezza pediatric launch off to a strong start — top 20 key target institutions have all written a prescription – Breakthrough T1D grant awarded to advance the INHALE-1ST trial • Furoscix®: strong revenue growth (+43%) over Q1 • Enrollment underway in the nintedanib D
Slide 7: Q2 2026 Revenues
Q2 2026 Revenues Marketed Products* +27% $39 $31 $ 109 $ 90 +21% Q1 2026 Q2 2026 Royalties Q1 2026 Q2 2026 $33 -1% $32 Total Revenue (in Millions, Rounded) Q1 2026 Q2 2026 7 * Marketed © Copyright 2026. All rights reserved. MannKind Corporation. / 5 August 2026 products includes Afrezza and Furoscix
Slide 8: 1H Revenue Mix Evolution Reflects Success of Diversification Strategy
1H Revenue Mix Evolution Reflects Success of Diversification Strategy $160 • Marketed products overtake $135 royalties as top revenue source for $140 first time $120 $100 $94 52% • +111% year-over-year in MNKD +111% commercial product revenue, rising (M) $80 35% from 35% to 52% of revenue mix $60 •
Slide 9: Afrezza in Pediatrics
Afrezza in Pediatrics 9 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 10: Afrezza Now Approved for Pediatric Patients Living with Diabetes 6 Years and Older
Afrezza Now Approved for Pediatric Patients Living with Diabetes 6 Years and Older The first alternative to mealtime injections in 100+ years of pediatric treatments Differentiated clinical profile • Ultra-rapid onset and earlier peak — insulin action closer to how children actually eat and live day
Slide 11: Why Afrezza in Pediatrics Is Different
Why Afrezza in Pediatrics Is Different A concentrated, targetable market A connected, patient-centric community ADULT PEDIATRICS ADULT PEDIATRICS >60,000 prescribers = <1,000 prescribers = Prescriber-only target, Prescribers + caregivers, 80% of RAA market 80% of pediatric Rx limited surround sound
Slide 12: Marquee Adoption, With Substantial Runway Ahead
Marquee Adoption, With Substantial Runway Ahead Early volume is coming from the right places — and most of the opportunity remains Marquee institutions already prescribing Top 100 pediatric The protocol-setting academic centers peers follow 1 in 3 RAA writers have prescribed Afrezza Top 20 priority
Slide 13: Media Coverage Converting into Early Momentum
Media Coverage Converting into Early Momentum NATIONAL AWARENESS total broadcast stories >1.2K aired in greater than 200 markets in all 50 U.S. states Broad visibility sparked awareness, social conversation, and momentum unlike anything HCP DEMAND SIGNAL the brand has previously experienced “ I’ve b
Slide 14: Innovation Roadmap in Afrezza
Innovation Roadmap in Afrezza Product Development, Digital Advancements and Global Expansion Roadmap Updated FDA Afrezza 2-unit cartridge Anticipated approval approved dose conversion High Concentration Afrezza Potential for up to a 20-unit cartridge, ADA guideline INHALE IQ enabling entry into the
Slide 15: Furoscix
Furoscix 15 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 16: Furoscix Can Address Fluid Overload Across the Patient Journey
Furoscix Can Address Fluid Overload Across the Patient Journey STABLE PATIENT TREATED AT HOME WITH ORAL DIURETIC POST-HOSPITAL DISCHARGE Use Furoscix to: EARLY INTERVENTION • Discharge early and ~1M When fluid overload first resolve residual Addressable presents, use Furoscix: Fluid Overload congest
Slide 17: Since Q1, MannKind Advanced Key Furoscix Growth Opportunities
Since Q1, MannKind Advanced Key Furoscix Growth Opportunities Identified Challenges Opportunities 1 Limited Hospital Presence Increase IDN engagement to drive stronger hospital pull-through +36% QoQ IDN Growth (Q2 2026 vs. Q1 2026 ) 2 Diluted Salesforce Focus Sharpen cardiology and nephrology specia
Slide 18: Furoscix ReadyFlow Now Approved
Furoscix ReadyFlow Now Approved The first and only IV-equivalent diuretic delivered via autoinjector Designed for at-home intervention • Treats fluid overload in adults with HF or CKD outside the hospital setting • May support earlier intervention beyond the hospital – across outpatient, post-discha
Slide 19: Furoscix ReadyFlow Launch Campaign
Furoscix ReadyFlow Launch Campaign is Built to Drive Immediate Awareness and Adoption Field activation begins immediately • Sales force launch training and deployment underway • Integrated HCP and patient campaign ready across digital, field and point-of-care channels • Major cardiology and nephrolo
Slide 20: Nintedanib DPI
Nintedanib DPI 20 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 21: Highlights
Highlights ✓ Positive Phase 1b study demonstrated safety and tolerability in patients with IPF • No serious adverse events • No GI burden • No discontinuations • No difference in spirometry parameters between placebo (empty cartridge) and nintedanib DPI ✓ Phase 2 global study underway • First patien
Slide 22: Cmax Drives Efficacy in Pulmonary Fibrosis
Cmax Drives Efficacy in Pulmonary Fibrosis • Cmax, not AUC, drives nintedanib efficacy — hitting a threshold peak concentration matters more than total lung exposure • Beyond that peak, more exposure adds little — large oral-derived tissue levels contribute minimal extra anti-fibrotic benefit • Brie
Slide 23: Phase 1a: Validated Efficient Deep-Lung Delivery of Nintedanib DPI
Phase 1a: Validated Efficient Deep-Lung Delivery of Nintedanib DPI Rapid, dose-proportional exposure and favorable safety findings supported advancement into IPF patient studies MannKind Phase 1a Study Published Nebulized Study Day 7 35 29.4* 30 25 20 ng/mL 15 12.2 10 8.64 5 3.11 1.08 1.94 0 Ninteda
Slide 24: INFLO-1 Phase 1b: First-in-Patient Study Design
INFLO-1 Phase 1b: First-in-Patient Study to Assess Safety, Tolerability and Pharmacokinetics STUDY DESIGN BASELINE CHARACTERISTICS Multiple-Ascending Dose (7 Days) | 2:1 Randomization Overall Total (N=27) Mean age Female COHORT 1 Safety Data Review COHORT 2 73.0 37% n=10 2 mg TID (Sponsor & External
Slide 25: Phase 1b: A Clean Safety Profile in First IPF Study
Phase 1b: A Clean Safety Profile in First IPF Study 0 0 0 Safety Signals Bronchospasms Discontinuations None of the diarrhea, A known risk for inhaled Where current oral therapies nausea or vomiting that limits powders — none observed, see discontinuation rates as oral nintedanib (OFEV®) even in fib
Slide 26: Phase 1b: TEAEs Show Limited Non-Cough Events
Phase 1b: TEAEs Show Limited Non-Cough Events TEAEs by Pooled Treatment Group Percentage of participants reporting event Pooled Placebo Pooled Active Adverse Event (n=9) (n=18) Beyond cough, each active-arm Cough 0 7 (39%) TEAE supports a clean broader Dry mouth 0 1 (6%) tolerability profile Muscle
Slide 27: Phase 1b Cough: No Discontinuations, No Severe Events
Phase 1b Cough: No Discontinuations, No Severe Events ~60% of patients had NO cough ~30% of patients had a mild cough 0 discontinuations from cough (11 of 18 on active drug) No severe cough 0 serious AEs THE PHASE 1b SUMMARY • ~90% of patients had no cough or a mild cough event (Grade 1); none were
Slide 28: Financial Results
Financial Results 28 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 29: Q2 2026 Revenue Momentum
Q2 2026 Revenue Momentum 2025 2026 +29% Afrezza $200 • $17.0M Q2 net sales • Limited pediatric contribution $155 following May 29 approval +43% Net Revenue (M) Furoscix +15% $109 • $22.2M Q2 net sales $90 • +43% sequential growth from Q1 $78 $77 2026 United Therapeutics Revenue Streams • $32.4M roya
Slide 30: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in Thousands) Q2 2025 Q2 2026 GAAP reported net income (loss) $668 $(19,032) Stock compensation 7,520 10,226 Interest expense on liability for sale of future royalties 3,473 510 Sold portion of royalty revenue* (3,123) (3,237) Loss (Gain) on foreign currency transa
Slide 31: Upcoming Investor Conferences
Upcoming Investor Conferences Wells Fargo 21st Annual Cantor Global Healthcare H.C. Wainwright 28th Annual Healthcare Conference Conference 2026 Global Investment Conference Boston New York New York September 9 September 10 September 15 31 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 32: Closing Remarks
Closing Remarks 32 © Copyright 2026. All rights reserved. MannKind Corporation.
Slide 33: Major Catalysts Driving 2026 & Beyond
Major Catalysts Driving 2026 & Beyond Afrezza® Pediatrics Furoscix ReadyFlow Nintedanib DPI • Indication expansion • Reduces administration from • Urgent need for new, effective hours to seconds via an therapies in IPF • Unique value proposition autoinjector addressing patient unmet • Lung targeted
Slide 34: Upcoming Scientific Conferences
Upcoming Scientific Conferences ADCES HFSA ASN Aug. 7-10 / Columbus, OH Oct. 9-12 / Phoenix Oct. 21-25 / Denver AHA ISPAD Nov. 7-9 / Chicago Nov. 4-7 / Rio de Janeiro 34 © Copyright 2026. All rights reserved. MannKind Corporation. / 5 August 2026
Slide 35: Q&A
Q&A Contact: [email protected] 35 © Copyright 2025. All rights reserved. MannKind Corporation.
Slide 36: Slide 36